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A source told John Clayton of ESPN.com that the New Orleans Saints have reached an agreement with punter Thomas Morstead on a six-year contract worth $21.9 million. No, that is not a misprint.

The deal, however, includes just $6.925 million in guaranteed money. By average annual value, it makes Morstead the second-highest-paid punter in the league behind the Oakland Raiders' Shane Lechler.

Morstead still had one year remaining on his current contract, and Larry Holder of The Times-Picayune reports that the new deal is an extension, meaning that Morstead is locked up for the next seven seasons.

Morstead was fourth in the league in gross punting average last season at 48.3 yards, but was second with a net of 44.4. He also handles the team's kickoffs.